From 2013 to 2023, the market size value per capita for textile and leather lubricants (excluding petroleum oil) in Latvia has shown some fluctuations. The value stood at $0.81 per capita in 2023, showing a minor decrease from 2022. Over the last two years (2022-2023), there was a modest decrease of about 1.2%. However, looking at the compound annual growth rate (CAGR) from 2018 to 2023, there was a small contraction each year, averaging around -0.5%. This indicates a relatively stable but slightly declining trend over the past five years.

Future trends to watch for:

Shifts in textile and leather production methods that may impact lubricant demand.
Sustainability concerns leading to innovations in lubricant formulations.
Potential price fluctuations due to changes in raw material costs or economic conditions.